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Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Fee revenue:    
Servicing fees $ 1,371 $ 1,287
Management fees 493 464
Foreign exchange trading services 346 444
Securities finance 99 92
Software and processing fees 174 112
Total fee revenue 2,483 2,399
Net interest income:    
Interest income 471 868
Interest expense 4 204
Net interest income 467 664
Other income:    
Gains (losses) from sales of available-for-sale securities, net 0 2
Other income 0 0
Total other income 0 2
Total revenue 2,950 3,065
Provision for credit losses (9) 36
Expenses:    
Compensation and employee benefits 1,242 1,208
Information systems and communications 421 385
Transaction processing services 270 254
Occupancy 109 109
Acquisition and restructuring costs 10 11
Amortization of other intangible assets 58 58
Other 222 230
Total expenses 2,332 2,255
Income before income tax expense 627 774
Income tax expense 108 140
Net income 519 634
Net income available to common shareholders $ 489 $ 580
Earnings per common share:    
Basic (in USD per share) $ 1.39 $ 1.64
Diluted (in USD per share) $ 1.37 $ 1.62
Average common shares outstanding (in thousands):    
Basic (in shares) 350,743 353,746
Diluted (in shares) 355,690 357,993
Cash dividends declared (in USD per share) $ 0.52 $ 0.52